On May 2, 2006, Moldova became the 63rd country to provide key economic information in line with international best practicesbased on the International Monetary Fund's (IMF) Special Data Dissemination Standard (SDDS). As a result, a broad set of Moldovan economic data will be published regularly on the IMF's Dissemination Standards Bulletin Board (DSBB)[1].
The effort is expected to have substantial positive benefits by ensuring the availability of timely and comprehensive statistics to investors, policy makers, and the general public. Studies show that providing data in this manner tend to improve functioning of financial markets by reducing launch spreads by an average of 20 percent[2]. More generally, greater transparency tends to reassure investors and contributes to the pursuit of sound macroeconomic policies as well as helps build consensus on broad economic development priorities.
Mr. Vitalie Valcov, General Director of the National Statistics Bureau, expressed satisfaction on this achievement and stressed that the bureau will continue to maintain the focus to compile and disseminate high quality timely economic information, in accordance with international standards.
Mr. Johan Mathisen, IMF Resident Representative in the Republic of Moldova, noted that Subscribing to the SDDS is a big step for Moldova, comfortably placing the country in the company of the rest of Europe, ahead of many emerging market countries.
Further information is available at the IMF and NBS Websites (www.imf.org, old.statistica.md) and by telephone (+373-22) 729397, 233232.
[1] Information will be published on monthly basis at the website http://dsbb.imf.org/Applications/web/dsbbhome/, with a national summary page (in Romanian language) maintained by the National Statistics Bureau (old.statistica.md/SDDS/NSDP), based on its data, as well as data from National Bank of Moldova, Ministry of Finance, and National Securities Commission.
[2] Econometric estimates based on panel data. See IMF WP/06/78 Sovereign Borrowing Cost and the IMFs Data Standards Initiatives, authors: John Cady and Anthony Pellechio (http://www.imf.org/external/pubs/ft/wp/2006/wp0678.pdf)
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